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We are going to close this thread as we don't see it as very useful. If you have any bounty questions, as always, private message us on here. Company updates and discussions will be posted on telegram and social media. Our thread will be reopened shortly once we are ready to have beta discussions as well as bounty payouts!
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Hi, we keep people updated via Telegram. Weekly Reviews have not been posted because there's nothing to review. Development is moving 7 days a week, but beyond that it's pretty slow. No new partnerships, agreements, and Malta is on hold as well until they release their new set of laws. We are doing our best to bring a quality exchange for everybody. All of this information was given to our contributors and followers before we stopped sending Weekly Reviews.
I was hoping this past week the devs would be far enough to provide screenshots/video of the exchange, but it seems they're not quite there yet. By the looks of things it looks like this coming week our production environment will be ready to view so I can send some images out along with a Weekly Review.
As for contributors, if they've been following us on Telegram and/or asking questions, then they should be fully up to speed on the progress. As per our terms, contributions are not able to be refunded.
This coming week we will also release our new site (the pages that do not touch exchange functions), which should be done by Friday.
This whole situation is a complete disaster. The first mention of the company registration in Malta being postponed was in the previous post. You said well over a month ago that Malta was ideal and you should have done it earlier! Now there is a reason to delay registration in Malta (new rules and laws). There was a reason for delaying the launch of the beta trading for investors (because the developer ran off). Then new developers are trying to launch the website but over a month later just have not managed it? Colton, by your own admission you spent $250,000 and have just $50,000 remaining. You spent $250,000 of investors money and have nothing to show for it? You are playing with $50,000 of investors money trying to get the project launched with the live telephone operators from day one? Your $50,000 is more than enough to launch the project (just one website running on Alphapoint) using Alphapoint and their own whitelabel service. This whole mess is something you created as a result of your own mismanagement. How many of those investors will bother investing in other projects because of the bad experience they had with Bitmora? Colton you and your fellow team member Elias should lower your heads in shame. You failed as a project manager. Malta- you are correct, we did mention it in the past update... As I said, we are waiting on some laws and regulations on their end, nothing we can do to speed up their process. It's not a simple overnight task. I honestly don't know what to tell you besides reiterating the same thing over and over. I've explained NUMEROUS times to you over the course of this month, in which NO NEW information has come out on our end. I'm not sure if you follow Maltese Law, but they are undergoing massive regulation changes involving crypto. We can't simply slide by that, just like how we can't simply slide by US regulations. We've spent a ton of money on lawyer fees getting everything sorted on our end for both US and European law. You're still coming back to us complaining about money, when I gave you a explanation just a few weeks ago, and yet you are going to fire back with the exact same statement. A year ago you seemed to believe you could start an exchange with less than $10,00, maybe now you understand that's not quite possible by watching our downfalls. Both my team and I understand you don't like us. That part has been the most obvious for over a year while you continuously hit us down with nasty comments, whether the news was good or bad, further damaging our brand. Our contributors have a much better attitude than you, rather than constantly hitting us down at any given opportunity, they are sticking by us, not screaming about money and are giving support. You're right, we only got 50k left, and I can tell you right now we got even less than that now that a few weeks have passed since then. It's going to be very hard to get off the ground now as volume would be very low as we have literally nothing left to actually pump volume into the exchange. Either way, we are pushing forward. Even with the laws, regulations, and money against us. Our contributors all have the up-to-date information and we will keep pushing forward until we either launch or can't push anymore. We've been working on this for over a year now and are not going to let one developer make make us "lower our heads in shame", if that's the way you perceive things then maybe you should go ahead and put your head down yourself. -CB |
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Still silence from Bitmora..... I am so glad I did not invest in this project and I feel sorry for those that did invest.
Why have the Weekly Updates not been posted? What are those investors supposed to do that have had enough of the situation and want their money returned to them?
Hi, we keep people updated via Telegram. Weekly Reviews have not been posted because there's nothing to review. Development is moving 7 days a week, but beyond that it's pretty slow. No new partnerships, agreements, and Malta is on hold as well until they release their new set of laws. We are doing our best to bring a quality exchange for everybody. All of this information was given to our contributors and followers before we stopped sending Weekly Reviews. I was hoping this past week the devs would be far enough to provide screenshots/video of the exchange, but it seems they're not quite there yet. By the looks of things it looks like this coming week our production environment will be ready to view so I can send some images out along with a Weekly Review. As for contributors, if they've been following us on Telegram and/or asking questions, then they should be fully up to speed on the progress. As per our terms, contributions are not able to be refunded. This coming week we will also release our new site (the pages that do not touch exchange functions), which should be done by Friday. |
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Got to say this delay is extremely bad news for the reputation of Bitmora....
Yes, all contributors waiting for a long time (me too), i hope in the next update news, the team of bitmora will say about Bounty Participants because bounty thread still not update  No sign of any update with real information about going live for the beta release and there was no mention about the developer, the security holes and how much money was spent on hiring the new developers and most importantly no information about when the bounties will be paid and no information about the viability of the business because nobody knows how much money is left in the kitty. There is no breakdown of how much and where the money raised has been spent. All of those updates our been posted on our Weekly Reviews, we will not continue to remind you about bounty payouts or launch date in official company updates. All of that info has been covered numerous times, and has not changed. As always, people on our Telegram can ask their questions freely and many topics have been talked about in the past week. As for money, we can see about releasing a public financial document, but nobody has bothered to ask. A lot of money was lost during Bitcoin’s drop in December-February, around 100k, that’s slightly our fault because we kept all funds in crypto (we no longer do that). Money spent is obviously scattered, but we’ve kept track of everything so some sort of pie chart can be made for the past, and future. Money left is around 50k. |
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Hello everyone. As you may have noticed, our scheduled beta launch did not happen. We did not foresee this and we are not proud of it ourselves. One of our head developers had an issue arise and without him here on Saturday, launch was impossible. Our team went to sleep Friday night expecting to wake up to a functional exchange but instead woke up to a nightmare scenario that not only disrupted our team’s holiday weekend but also served as a major setback for the entire project.
We have already started hiring new developers to help us move forward. Two weeks ago, we said we would make up for the delay by adding new features and polishing our user experience, and we did, up until Saturday. No one on our team planned for this, and we are all filled with regret and disappointment. With that said, we must move forward. We expect to have a platform ready to bring online later this week, however trading might not be immediately available. Trading should be enabled shortly after platform release, at which point beta will officially launch and will last an expected 4-6 weeks. Beta will only be open to contributors, and we expect many several changes during this period, including both UI updates and the addition of new features.
What happened Saturday hurt our contributors, investors, bounty participants, and us. The followers and supporters of Bitmora makes for a rather small community and we rely on each and every one of you to spread the word of our movement throughout the crypto community and we feel we have let you down. We will make this right, but we have a lot of work to do internally to make that happen. We will keep everyone updated over the coming days, we hope to have good news soon.
Really sorry to hear this. But please make absolutely sure, that the next launch day will work out. Don't set another date you can't keep up with or people will lose trust. I am still completely behind the project though! We’re going to get the beta platform out ASAP to contributors, however launch itself will be a very comfortable 4-6 weeks after. During beta we will slowly start to push out our education platform. We will ensure this can not happen again. |
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Hello everyone. As you may have noticed, our scheduled beta launch did not happen. We did not foresee this and we are not proud of it ourselves. One of our head developers had an issue arise and without him here on Saturday, launch was impossible. Our team went to sleep Friday night expecting to wake up to a functional exchange but instead woke up to a nightmare scenario that not only disrupted our team’s holiday weekend but also served as a major setback for the entire project.
We have already started hiring new developers to help us move forward. Two weeks ago, we said we would make up for the delay by adding new features and polishing our user experience, and we did, up until Saturday. No one on our team planned for this, and we are all filled with regret and disappointment. With that said, we must move forward. We expect to have a platform ready to bring online later this week, however trading might not be immediately available. Trading should be enabled shortly after platform release, at which point beta will officially launch and will last an expected 4-6 weeks. Beta will only be open to contributors, and we expect many several changes during this period, including both UI updates and the addition of new features.
What happened Saturday hurt our contributors, investors, bounty participants, and us. The followers and supporters of Bitmora makes for a rather small community and we rely on each and every one of you to spread the word of our movement throughout the crypto community and we feel we have let you down. We will make this right, but we have a lot of work to do internally to make that happen. We will keep everyone updated over the coming days, we hope to have good news soon.
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I supported your project at the bounty company, I don't understand why you're holding up payments . Payment in ETH. what's the problem? Will your project work the same way you pay ? very bad?
Hi, on Page 7 you can find an update regarding our bounty. That statement still applies today. Payment will be in ETH, however, that does not change the rate of time in which we will pay you guys. |
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Is this the final date of launch? Or can there be another date shift? I would like to see the platform itself.
Hi, we don't plan on having another delay. So just sit tight and we'll be launching in the next few days! |
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I appreciate you guys taking the time to consider security and understand why you haven't put your work on Github publicly.
Has your exchange been through any audits yet? If so, how were the results?
As we haven’t launched yet, we have not conducted any audits. Once launched, order books will be routinely audited to ensure everything stays in check. We’ll also conduct 3rd party audits after launch regularly, more information on auditing and monthly financial statements will be discussed more in depth after launch. Once we get going though, we will have a monthly, and quarterly schedule that we’ll follow. |
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I remember hearing about Bitmora a while back, and they were supposed to have live phone support. Is that still planned for the upcoming launch?
Hi, yes we will have phone support at our launch. when bounty distribution sir?
Bounty distribution will begin after our launch. Is there a github where I can check commits?
Because we are a centralized exchange, our source is closed to the public to prevent any security leaks. If we launch a token in the future, that would then be on Github. |
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How many people are working on this project in total? Full time or part time.
Right now we have a team of just of 10 people. |
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I like this exchange idea. Does the entire Bitmora community get to vote on new features, or just investors?
I still have this question. Hi, we allow public polling, there is no need to be a contributor/investor to have the ability to vote. |
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You guys are doing a token to go along with the exchange aren't you?
Hi, after our launch we may consider doing an ICO. Interesting. What could expect out of a token from you guys? I assume it would be affiliated with the exchange? Yes, our token would be integrated into our voting system to bring a true, Blockchain built voting system. |
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Do you guys have a mobile app yet?
Hi, yes we will be launching with a mobile app for both Android and iOS. |
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You guys are doing a token to go along with the exchange aren't you?
Hi, after our launch we may consider doing an ICO. |
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Is the contribution portal still open for new contributors or is it too late for me?
Hi, we'll be closing the contribution portal this Friday, so you only have a couple days left! |
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Glad, that after so much time you still reached to launch platform. I hope the launch will be successful, and the problems will quickly resolve
Let us see what the coming days hold.
Bounties have yet to be paid after being delayed, legal fees to pay towards SEC regulation might eat in to Bounties and might delay payouts, the project still has some days before launch and nothing yet is taken for granted.
Let us see what the coming days bring.Well the above is what I wrote on 2nd May 2018. The "bounty people" just want their ETH payouts and nothing else, most of them promoted Bitmora not because they believed in the project but because they wanted ETH nothing more and nothing less. delays and reasons for those delays mean nothing to those that promoted Bitmora. I did not believe in the project, had doubts from the beginning thus did not become an early investors after making enquiries and thus far those doubts been proven to be true but I always wished the Bitmora team success regardless. Sorry but for what is is worth (or not) Bitmora has just damaged its reputation again but this time probably beyond repair. Thanks for your view on the project, we will keep everyone updated over the next few days as we begin our move to Malta! |
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